Mahindra is 62-year-old now. The present managing director Pawan Goenka is the second big name in the group and he is 63-year-old. Rajan Wadhera is the President of the Automotive Sector and Rajesh Jejurikar is the President of the Farm Equipment and the two wheeler segments.

Detroit, the epicentre of automobile industry in the United States, will see its first manufacturing plant in 25 years. Anand Mahindra-led Mahindra & Mahindra on Monday opened its new vehicle assembly plant and company's North America headquarters in America's 'motor city'.

The IPO of Mahindra Logistics will remain open for public subscription till November 2. The company has fixed a price band of Rs 425-429 per share. At the upper end of the price band, the public issue is expected to fetch Rs 829.35 crore.

The government is planning to set up five scrap-based steel plants at an investment of Rs 500 crore within a year to ensure that a chunk of the countrys targeted 300 million tonne steel output is met through scrap.

The Modi government has raised the limit on foreign investment in the defence sector and encouraged tie-ups between foreign and local companies under the 'Make in India' campaign where the Indian partner will remain the majority stakeholder.

India is home to world's fourth highest number of billionaires with Reliance Industries chief Mukesh Ambani leading the club of more than 100 super rich Indians, according to a new list released by Forbes magazine.

"We don't believe start-ups are the private preserve of only garage start-ups...The corporate garage is going to be the scene of a lot of action," said Anand Mahindra, executive chairman of Mahindra group, in an interview with Reuters at an investor gathering on Tuesday.